List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.
ELEMENT | PERFORMANCE CRITERIA |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Analyse the digital channel to be monetised | 1.1 Evaluate the opportunities for paid, owned or earned customer engagement 1.2 Audit prior experience with channel monetary transactions 1.3 Identify barriers to streamlined transactions 1.4 Prepare key observable and measurable criterion for successful channel monetisation 1.5 Recognise and incorporate financial service requirements within current legislation, regulation and organisational policy |
2. Create design interventions | 2.1 Prepare reliable digital processes that develop customer trust 2.2 Define the features and applications required to enable transactions 2.3 Specify authentication and security requirements to secure transactions 2.4 Model the digital customer engagement to select points-of-sale and closure |
3. Select and implement tools and technologies | 3.1 Negotiate with financial institutions to establish effective processing parameters 3.2 Evaluate and select payment processing tools and technologies 3.3 Determine reliable systems for the collection and analysis of transaction data 3.4 Ensure tools, technologies and applications are tested and activated within identified performance parameters |
4. Monitor and evaluate performance | 4.1 Regularly review performance with a financial analytics service 4.2 Track transaction metrics using suitable technologies 4.3 Monitor and identify gaps in performance against requirements and adjust as necessary 4.4 Evaluate and report on monetisation effectiveness |
Evidence of the ability to:
analyse a digital engagement channel and identify the opportunities to monitise transaction
prepare success criteria for monetised transactions
prepare a model of customer engagement showing preferred points-of-sale and closure
describe how digital authentication and security works to develop customer trust
negotiate service agreements
identify trends and performance information from transaction data.
Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.
To complete the unit requirements safely and effectively, the individual must:
explain the differences between paid, owned and earned customer engagement
compare the engagement features of common digital financial transaction systems
list current payment processing tools and technologies used in digital transactions
identify the relevant aspects of financial services legislation that impact on digital financial transactions.
Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the marketing communications field of work and include access to:
relevant legislation and regulations
communications equipment and technology
relevant workplace documentation and resources
case studies or, where possible, real situations
industry software packages and apps (where applicable).
Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.